Dubai – Citi has renewed its cash management mandate with Etihad, further assisting the airline with a major Treasury transformation journey, helping to move its automation, digitalization and overall efficiency to the next level.
Etihad will gain access to Citi's breadth of digital capabilities across working capital and liquidity management, payments and collections, reconciliation and visibility, as well as working closely with Citi's Innovation Lab to deploy a number of innovations in treasury management using AI-based and API technology.
Etihad Airways has implemented a number of new capabilities using robotic process automation, machine learning and AI through its internal digital innovation lab in 2021, saving 73,000 manhours as productivity benefits, which it will continue to build on through this partnership.
Etihad will also explore opportunities to further strengthen its global leadership in sustainable aviation finance through collaboration with Citi's ESG team.
Adam Boukadida, Chief Financial Officer of Etihad Aviation Group: "Etihad is committed to driving innovation and developing global best practices, and our finance teams are always looking for opportunities to use new technologies to enhance our operations. We look forward to working together and implementing more cutting-edge treasury solutions with Citi as our global partner."
Daniel Tromans, Group Treasurer of Etihad Aviation Group: "This partnership with Citi marks the next stage in Etihad's Treasury Transformation Roadmap. We believe that Citi is the right partner to support Etihad's treasury team to achieve best in class treasury performance through the use of their industry-leading digital and multi-banking solutions."
Elissar Farah Antonios, CEO of Citi UAE and MENA Cluster Head commented: "We are delighted to continue to partner with Etihad on this transformation journey. We have a longstanding relationship with the airline, having been its cash management bank in more than 40 countries over the past 5+ years, and have watched it grow from strength to strength. We believe that they are in a good position to take this growth to the next level and we are thrilled to be able to assist with this."
About Citi's Treasury and Trade Solutions
Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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Etihad Airways, the national airline of the UAE, was formed in 2003 and quickly went on to become one of the world's leading airlines. From its home in Abu Dhabi, Etihad flies to passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and North America. Together with Etihad's codeshare partners, Etihad's network offers access to hundreds of international destinations. In recent years, Etihad has received numerous awards for its superior service and products, cargo offering, loyalty programme and more. Etihad is recognised as one of the world's leading airlines in response to COVID-19 and was the first airline in the world to fully vaccinate its crew on board. Etihad sees tackling the climate crisis as the most important issue of our time, and through strategic partnerships with major global aviation brands and OEMs, Etihad is relentless in its pursuit of industry decarbonisation. To learn more, visit etihad.com.